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Navy Federal’s Board Chair Retires After 30 Years of Service

Vice Admiral John Lockard championed successful growth strategies of Navy Federal during his decades-long tenure.

Navy Federal Credit Union branch Source: Shutterstock.

In 1991, Vice Admiral John Lockard, U.S. Navy (Ret.) was appointed to the Vienna, Va.-based Navy Federal Credit Union board as a volunteer official. In 1993, Lockard was elected to the board where he became secretary and, within a year, became chairman. Lockard held that position for 30 years until he announced his retirement on Friday.

According to the announcement from Navy Federal ($166 billion in assets), Lockard oversaw tremendous growth of the credit union as its membership went from 1.4 million in the early ’90s to 12.7 million today. Throughout his leadership, Lockard successfully pushed the credit union’s field of membership expansion to include all Department of Defense employees in 2008 and helped establish Navy Federal’s Pensacola, Fla., campus in 2002, where more than 10,000 employees work.

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Michael Ogden

Michael Ogden

Editor-in-Chief for CU Times.

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